Monday, June 9, 2008
At least one thing is no longer in any doubt: this is the world economy’s third oil price shock, following in the footsteps of the Opec crises of the 1970s and early 1980s
Oil price shock fuels fear of UK stagflation It has once again sparked fears that the UK is poised for a nasty period of stagflation
The rise in oil prices to almost $140 a barrel on Friday put to an end any doubt that high crude costs would soon ebb away. It has once again sparked fears that the UK is poised for a nasty period of stagflation - high inflation and low growth.